CGI Inc. (NYSE:GIB) Stake Cut by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd lowered its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 2.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,609,507 shares of the technology company’s stock after selling 101,163 shares during the quarter. CGI makes up about 2.8% of JARISLOWSKY FRASER Ltd’s holdings, making the stock its 10th biggest position. JARISLOWSKY FRASER Ltd owned about 2.00% of CGI worth $459,991,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GIB. Norges Bank purchased a new stake in CGI in the 4th quarter valued at approximately $273,239,000. Clearbridge Investments LLC purchased a new stake in CGI in the 4th quarter valued at approximately $85,909,000. Janus Henderson Group PLC lifted its stake in CGI by 3,776.8% in the 1st quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock valued at $77,381,000 after buying an additional 681,747 shares in the last quarter. TD Asset Management Inc lifted its stake in CGI by 29.6% in the 4th quarter. TD Asset Management Inc now owns 2,156,776 shares of the technology company’s stock valued at $232,181,000 after buying an additional 493,145 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of CGI by 54.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 735,174 shares of the technology company’s stock worth $78,818,000 after purchasing an additional 258,651 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Jefferies Financial Group increased their price target on CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. CIBC lowered CGI from a “sector outperform” rating to a “neutral” rating in a research note on Friday, June 21st. Sanford C. Bernstein raised CGI to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, UBS Group assumed coverage on CGI in a research note on Friday, July 19th. They set a “neutral” rating and a $112.00 price target on the stock. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CGI currently has a consensus rating of “Moderate Buy” and an average price target of $132.67.

CGI Trading Down 1.6 %

GIB stock opened at $112.84 on Thursday. The company has a market cap of $26.04 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 2.67 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $109.63 and a 200-day simple moving average of $106.80. CGI Inc. has a 52 week low of $93.07 and a 52 week high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 EPS for the quarter, hitting analysts’ consensus estimates of $1.40. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. CGI had a return on equity of 20.21% and a net margin of 11.51%. On average, equities research analysts expect that CGI Inc. will post 5.52 EPS for the current year.

CGI Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.